Unauthorized assumption of corporate powers

7-122-104. Unauthorized assumption of corporate powers. All persons purporting to act as or on behalf of a nonprofit corporation without authority to do so and without good-faith belief that they have such authority shall be jointly and severally liable for all liabilities incurred or arising as a result thereof. Source: L. 97: Entire article added, p. 661, � 3, effective July 1, 1998.